1. | Change Cost | |
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(1) |
Registration Service Fees |
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Our fees for handling the share transfer for a WFOE in Beijing, China are RMB10,000. In particular, our fees cover the following services: (1) Preparation of change application documents (Excluded share transfer agreement); (2) Application for share transfer with BAMR; (3) Application for MOFCOM registration; (4) Application for shareholder change with tax bureau; (5) Application for the change of foreign exchange registration particulars; (6) Application for shareholder change with bank If special licence or permit or other extra change is required, we may need to adjust our fees accordingly. |
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(2) |
Official Filing Fees |
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The fees quoted in Section 1 (1) above do not cover official filing fees to be paid to different government departments and the official filing fees are estimated to be around RMB1,500, assuming no special license or permit is required. |
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(3) |
Legalisation Costs |
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Our fees stated above also do not cover the legalization of the identity/incorporation documents of the shareholder/member of the Beijing WFOE. Kaizen is able to arrange the legalisation of the aforesaid documents for company registered in Hong Kong, Singapore, Taiwan, British Virgin Islands, Cayman Islands and Bermuda and a few other countries. Fees for legalisation will be quoted upon request. |
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(4) |
Translation Costs |
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Our service fees stated in Section 1 (1) do not cover translation costs for translating the documents prepared by you from English to Chinese or translation of registration documents from Chinese to English. If so required, we will charge an extra amount of RMB300 per page of A4 size paper for the translation services. In case the translation is done by client directly, we will charge RMB60-180 per page of A4 size paper as proof reading service fees. |
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A summary of the fees and costs is provided in Schedule 1 to the quotation. |
2. |
Payment Terms and Methods |
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Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance. If China or Taiwan official tax invoice is required, Value-Added Tax or Business Tax at the prevailing rate in the respective jurisdiction will be charged. |
4. |
Estimated Time Frame |
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It is estimated that the whole change process would take around 6 to 8 weeks, subject to the approval by the various registration authorities in Beijing. The table below shows the estimated time frame for each of the steps for the change. |
Step
Description
Who is Responsible
Working Days
Preliminary
1
Legalization of identity/incorporation documents of the new shareholding company
Investor
Investor’s schedule
2
Preparation of WFOE’s certificates and licenses
Investor
Investor’s schedule
3
Other documents
Investor
Investor’s schedule
Application for Share Transfer
4
Application for share transfer with BAIC
Kaizen
5-7
5
Application for MOFCOM registration
Kaizen
3
6
Application for shareholder change with tax bureau
Kaizen
3
7
Application for the change of foreign exchange registration particulars
Kaizen
7-10
8
Application for change of shareholder with bank
Kaizen
10-15
Around 6-8 Weeks
5. | How to Start | |
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(1) |
We will sign an engagement letter with you; |
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(2) |
You pay the service fees to us; |
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(3) |
You provide the required materials to us; |
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(4) |
We prepare the application forms and relevant documents after receipt of required documents; |
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(5) |
We deliver the documents to you for signing; |
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(6) |
You return the duly signed documents to us; |
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(7) |
We submit the documents to relevant government authorities concerned application and change of various certificates as stated in Section 4; |
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(8) |
The whole procedures are completed and certificates are forwarded to you. |
Item |
Description |
Amount (RMB) |
1 | Service fees for share transfer for Beijing WFOE (Note 1) |
10,000 |
2 |
Official filing fees (Note 2) |
1,500 |
3 |
Disbursements |
500 |
4 | Legalization Fees (Optional) |
TBA |
5 | Preparation of share transfer agreement (Optional) |
TBA |
6 |
Translation Fee (Optional) |
TBA |
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TOTAL |
12,000 |
1. | If special licence or permit needs to be updated due to the share transfer, Kaizen will handle the change application and our fees will be quoted upon request. |
2. | The government fees are estimated on the premises that no speical license or permit is required. We will collect it before the commencement of services and any shortfall will be billed after completion of the change. |
3. | Item 4 to 6 will only be incurred if we are being engaged for such services. |
4. | If Chinese tax invoice is required, a Value Added Tax and Surcharges of 5% would be applicable. |